On the steps of his Georgetown hose in Washington, Dec 13, President-elect John F Kennedy announced that his Secretary of Defence would be 44-year-old Robert Strange McNamara.
CU Kennedy and McNamara with newsmen.
TRANSCRIPT: McNamara: "I own 24,250 shares of Ford Motor Company stock, I have an option on 30,000 additional shares. I shall relieve myself of both."
McNamara: "I cant tell from memory. There are two different options at different prices at different dates."
McNamara: "More than I would like to say. There will be profits foregone of about 3-million dollars in the next three to four years."
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Background: On the steps of his Georgetown hose in Washington, Dec 13, President-elect John F Kennedy announced that his Secretary of Defence would be 44-year-old Robert Strange McNamara. A month ago McNamara was named President of the Ford Motor Company, a position he will now have to resign.
Outside Senator Kennedy's home the two mean answered questions for newsmen. Asked how much Ford stock he owned and what he was going to do with it McNamara said
Asked what price he will let his stock sell at he said
McNamara laughed when he was asked how much his new job would cost him saying
McNamara's appointment came as a surprise to political observers who thought the post would go to Senator Stuart Symington, a leading Democratic Party spokesman on Defence matters. Robert McNamara is a registered Republican who supported Mr. Kennedy in the Presidential election.